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2016-FRR Valid Exam Pass4sure | 2016-FRR Guaranteed Success

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GARP 2016-FRR Exam is part of the GARP (Global Association of Risk Professionals) FRR series, which includes several other exams related to financial risk and regulation. The FRR series is designed to provide professionals with the tools and knowledge needed to navigate the complex world of financial risk management and compliance.

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GARP 2016-FRR exam is designed to test the knowledge and skills of risk professionals who work in the financial industry. 2016-FRR exam covers a wide range of topics related to financial risk management, including market risk, credit risk, operational risk, and regulatory compliance. 2016-FRR exam is divided into two parts, with the first part covering foundational concepts and the second part covering more advanced topics.

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GARP Financial Risk and Regulation (FRR) Series Sample Questions (Q56-Q61):

NEW QUESTION # 56
When considering the advantages of operational risk function owned by the Chief Compliance Officer in a financial institution, an operational risk manager consultant suggests that this governance approach will have all of the following advantages except:

A. This governance structure maintains an independent operational risk function.
B. In accordance with Basel II Accord, the operational risk function should report directly into the audit function and strengthen that function.
C. The operational risk function quickly inherits an existing reporting structure, established meeting schedules and functional reporting cycles from the compliance function.
D. The operational risk function is closely linked in a partnership with the compliance function to leverage data and assessment activities.

Answer: B

Explanation:
Advantages of having the operational risk function owned by the Chief Compliance Officer include:
* Maintaining an independent operational risk function.
* Linking the operational risk function closely with the compliance function to leverage data and assessment activities.
* Quickly inheriting an existing reporting structure, established meeting schedules, and functional reporting cycles from the compliance function. However, according to Basel II Accord, the operational risk function should not report directly into the audit function; it should have its own distinct reporting line to maintain independence.

NEW QUESTION # 57
Banks duration match their assets and liabilities to manage their interest risk in their banking book. A bank has $100 million in interest rate sensitive assets and $100 million in interest rate sensitive liabilities. Currently the bank's assets have a duration of 5 and its liabilities have a duration of 2. The asset-liability management committee of the bank is in the process of duration-matching. Which of the following actions would best match the durations?

A. Increase the duration of liabilities by 2 and decrease the duration of assets by 1.
B. Decrease the duration of liabilities by 1 and increase the duration of assets by 1.
C. Increase the duration of liabilities by 2 and increase the duration of assets by 1.
D. Decrease the duration of liabilities by 1 and decrease the duration of assets by 1.

Answer: A

Explanation:
To match the durations of assets and liabilities, the bank needs to adjust the durations so that they are equal.
Currently, the assets have a duration of 5 and the liabilities have a duration of 2.
One way to match the durations is to increase the duration of liabilities by 2 (making it 4) and decrease the duration of assets by 1 (making it 4). This results in both the assets and liabilities having the same duration, thereby matching them.

NEW QUESTION # 58
Why is stress testing a valuable part of credit risk assessment?

A. Because it quantifies adverse and unexpected outcomes on the credit portfolio and capital levels
B. Because it models common situations and prepares banks for routine credit conditions
C. Because it produces probabilistic expectations of the credit market and its future conditions
D. Because it optimizes the impact of default rates and asset values on credit migration

Answer: A

Explanation:
Comprehensive and Detailed In-Depth Explanation:
Stress testing evaluates a credit portfolio's resilience under adverse scenarios (e.g., economic downturns), quantifying impacts on defaults, losses, and capital adequacy. Option D is correct-Basel II's Pillar 2 mandates stress testing for unexpected outcomes. Option A (common situations) describes standard modeling, not stress testing. Option B (probabilistic expectations) aligns with VaR, not stress testing's focus on extremes. Option C (optimizing migration) is unrelated to stress testing's purpose.
Exact Extract from Official Source:
* BCBS, "Basel II: International Convergence of Capital Measurement and Capital Standards," June
2006, para. 434: "Stress testing is a critical tool for credit risk assessment, enabling banks to quantify the impact of adverse and unexpected scenarios on their credit portfolios and capital levels."
* GARP FRR Study Notes, Credit Risk Section: "Stress testing assesses the effect of severe, unexpected events on credit losses and capital, distinguishing it from routine risk modeling." Reference:BCBS, "Basel II," para.434; GARP FRR Study Notes, Credit Risk Section.

NEW QUESTION # 59
Which one of the four following statements about technology systems for managing operational risk event
data is incorrect?

A. The implementation of a new operational risk event loss database has to incorporate an analysis of the
advantages and disadvantages of external systems.
B. Operational risk event databases are always integrated with the other components of the operational risk
management program.
C. Operational risk loss event data collection software can be internally developed.
D. Operational risk event databases are independent elements of the operational risk management
framework.

Answer: B

NEW QUESTION # 60
Rising TED spread is typically a sign of increase in what type of risk among large banks?
I. Credit risk
II. Market risk
III. Liquidity risk
IV. Operational risk

A. II only
B. I and IV
C. I only
D. I, II, and III

Answer: C

NEW QUESTION # 61
......

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